An Evaluation Of Transformations In Financial Performance Measurement In Terms Of Turkey
AbstractQuestions on how to measure financial performance, and the real indicators of correct and real financial performance, have always been an unsolved actual argument in financial economics theory and practice, though they have been discussed for centuries. Accounting based profit measures kept their dominance to measure financial performance for a long time. Indeed, the shortcomings of profit maximization goal have been expressed for more than 200 years. Nevertheless, barely last 40-50 yearsâ€™ fundamental developments in global economic view and studies in financial economics have transmitted the focus from profit maximization to shareholder value comprehension, or value maximization, in other words. This transformation emerged in developed Anglo-Saxon economies and has been settled there today, on a large scale. Although it can be observed that the main trend in other developed and developing economies is on the same way, the convenience of the new paradigm and metrics especially in developing economies, in recent phase, is still in a dense argument.
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Bibliographic InfoArticle provided by Anadolu University in its journal Anadolu University Journal of Social Sciences.
Volume (Year): 9 (2009)
Issue (Month): 1 (June)
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financial performance; performance measurement; value-based management; shareholder value; economic value added;
Find related papers by JEL classification:
- M41 - Business Administration and Business Economics; Marketing; Accounting - - Accounting - - - Accounting
- M52 - Business Administration and Business Economics; Marketing; Accounting - - Personnel Economics - - - Compensation and Compensation Methods and Their Effects
- G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
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